Automatic quotation board



1 July 24, 1934. v c. SMITH 1,957,331

I AUTOMATIC QUOT ATION BOARD Filed Aug. 16, 1929 2 Sheets-Sheet 1 STOCK3 STOCK 2 STOCK I CLYDE SMITH INVENTOR ATTORNEY July 24, 1934. c. 15m1,967,331

AUTOMATIC QUOTATION BOARD.

Filed Au 16, 1929 -2 sheets-sheet 2' FIG. 2

STOCK DIAL UNIT ONE Re. I 2X60 CLYDE SMITH INVENTOR u I lllllhlllllllllllfmlllllillll Illllllllllllll IHM ATTORN EY Patented July 24,1934 UNITED STATES PATENT OFFICE AUTOMATIC QUOTATION BOARD YorkApplication August 16, 1929, Serial No. 386,424

9 Claims. (01. 177-353) The present invention relates generally to stockquotation systems, and more particularly to automatic means for settingthe indicators on certain shelves of each stock unit in a quotationboard to blank position at the end of the market day.

In the automatic stock quotation board disclosed in applicantsco-pending application, Serial Number 382,268, filed July 30, 1929, thesending operator is required to send one series of impulses for settingthe desired indicators in each stock unit to blank position. As a stockquotation board ordinarily displays quotations on two hundred or morestocks, the operation of preparing that board for the openingquotations'of the following day requires considerable time.

Accordingly, an object of the present invention is to simplify thisoperation by requiring the sending operator to send only-two series ofimpulses, one serving to set all of the indicator positioning shafts toblank position and the other serving to select a sequence switch thatsuccessively selects all the stock units on the board and, upon theselection'of each unit, sets the indicators on the open and high and lowshelves of each stock unit to blank position; When all of the desiredindicators onthe board have been set to blank, the sequence switch comesto rest until it is again selected. The arrangement for successivelyblanking the indicators as set forth in this invention is desirable inorder not to disturb the setting of the indicator drive shafts, whichwould occur'if a large number of indicators were to be blankedsimultaneously.

In carrying out the above object the-=indicator positioning shaftscommon to the indicators on the quotation board are set to blankposition by to select successively the stock units on the board and toset the indicators on the open, high and low shelves of each stock unitselected to the position of the corresponding positioning shafts.

Other objects and features will be apparent from the followingdescription, the appendedclaims and the drawings, wherein:

Fig. 1 illustrates schematically the sequence switch, suitable controlmeans for positioning the indicator drive shafts and initiating theaction of the switch, together with the open, high'and low operatingmagnets for three stock units;

Fig. 2 illustrates in perspective a single stock unit provided withprevious close, open, high, low and last shelves of indicators; and

Fig. 3 illustrates the details of an indicator assembly on the lastshelf.

The complete stock quotation board as set forth in applicant's copendingapplication comprises an assembly of commodity or stock units each ofwhich is assigned to a particular stock or commodity (Fig, 2). Each unitconsists of a group of registers and each group is divided into a numberof sub-groups of shelves each having a plurality of registers forindicating the several orders of digits'and fractions of the price.Corresponding registers in the several shelves of the same unit, such asthe register for indicating the tens digit of the price, are mounted onthe same shaft.

The hundreds, tens, units and fractions of the several stock units arerespectively connected through intermediate gearing to a common hundredsshaft, common tens shaft, common units shaft, and common fractionsshaft. Motor means such as S (Fig. 1) are associated with each of thecommon shafts and a fractions, units, tens and hundreds price selectorsuch as J is provided for variably operating the motor means associatedwith the digits driving shafts; a tens and a units stock or commodityselector such as H is provided for conditioning the registers of theparticular stock or commodity for a subsequent operation. -A shelfselector similar to H is provided for conditioning the registers onpredetermined shelves of the selected unit for operation in accordancewith the previous setting of the common shafts.

.Since a complete description of this stock quotation system is notnecessary for the purposes of this invention, only those portions thatare essential are herein set forth.

Referring now to Fig. 1, A and A1 are the transmitting mechanism andshown here as conventional impulse dials. D is a sequence switch forconnecting the transmitting means with the various stock, price andshelf selectors such as H and J. Dial A controls the position of switchD and dial A1 controls the positioning of selectors as H and J, if theyare connected to dial A1 by D. Stock selector H normally controls thevarious stock relays which serve to connect the lead wires 65 of theoperating magnets, such as K9, K10, K11 (Fig. 2) of a particular stockto the common leads under the control of a shelf selector .(not shown)similar to selector H. J, which is shown as the fractionsprice selector,is similar to the hundreds, tens and units price selectors with theexception that it has eight contacts, 7 of which represent respectivelyand the eighth a blank space; while the others have 12 contacts, 10being needed for the figures 1, 2, 3 0 and two for blank spaces. Thetwelfth contact is added toeifect the desirable even number of spacesfor the paired stator coils of the indicator shaft operating motors suchas S.-

The contacts of the price selectors are divided into two groups, eachgroup having its first, second, third, etc., contact multipled to alike'contact of the other. Each pair of contacts is connected to a pairof stator coils in the associated motor such as S. The wiring of theswitch is so armagnet D19. Wiper D2 advances and makes with contact D4.Dial A1 may now be operated to cause the selector to advance to thedesired position. By advancing D2 to D5 the second stock selector H isconnected to dial A1. Subsequent dialling of A1 causesstepping magnet H8to operate and select any one of its contacts through its wiper H1.Next, the price selection is made by advancing D2 to contacts D8, D9,D10

. tion of the indicators.

and D11 which serve to connect the dial A1 with the fractions, units,tens and hundreds price selectors such as J, respectively. If the pricehas a fractions digit and D2 has been advanced to D8 the operation ofdial A1 will actuate the stepping magnet J32. If the fraction is wiperJ1 is advanced three steps by means of dial A1 to contact J2. Uponreaching J2 a circuit is completed from positive battery, wiper J 1,contact J2, through the lead wires, to and through stator magnet J 23,to and through the stator magnet J19, to ground at J30. The permanentmagnet armature of the'motor S is then attracted by the paired statorcoil J19 and J23 so that J31 turns in a counter-clockwise directionuntil it is opposite J23 and J25 is then opposite coil J19. Thismovement of the armature, which is fastened to shaft J26, causes shaftJ26 to turn, which motion is transmitted through gears and shaft K59(Fig. 2) to position the indicator drive mechanism for subsequentoperation of the indicators. If any of the shelf magnets, such as K9,K10, K11, are now operated, the fractions indicator of the shelf orshelves will turn to a position whereby the figure will be displayed.If, however, the fraction were J1 would be advanced under control of A1until it made with contact J 27. On the making of contact J27 a circuitwould be completed from negative battery, wiper J 1, contact J27 throughthe lead wires to and through the stator magnet J29 to and through thestator magnet J17 to ground at J30. If the permanent magnet armaturewere in the position last described, that is J25 would be attracted in aclockwise direction to stator magnet J29, and J31 likewise would beattracted to stator magnet J17. This movement of the armature istransmitted through shafts J26 and K59 to position the dial actuatingmeans for subsequent opera- If there are units, tens or hundreds digitsto be positioned, the switch D is stepped so that its wiper D2 makeswith contact D9, D10, D11, respectively, and the same operations asheretofore described with regard to the fractions selector J take place.After the selection of the stock and the price it sometimes is desiredto position the price only of a particular shelf, that is a previousclose, open, high, low or last shelf. Contact D12 is connected to aswitch similar to the stock selector H whose contacts are connected tothe various shelf operating magnets, such as K9, K10, K11. Theparticular selection is made in the heretofore described manner by meansof the dial A1. 1

At the end of the market day, the last quotation on each stock is postedon both the last and on the previous close shelves of the stock unit fordisplaying quotations on that stock. Following this the indicators onthe open, high and low shelves of each stock unit on the board are setto blank position in preparation for the opening quotations of the nextmarket day.

In order to carry out the design of this invention one contact of eitherof the stock selectors, shown in the drawings as contact 2 of the switchH, instead of being connected to a stock relay is connected to a relay13. If contact 2 of selector H is selected, ground from ring H3 isconnected through wiper H1 and contact 2 to relay l3 and battery.Operation of relay 13 serves to start the sequence switch 3 which hasfive banks of contacts 4 to 8 inclusive over which wipers 18 to 22,respectively, are arranged to rotate. These Wipers are mounted in theusual manner on a shaft 40 which is shown broken away.

The wipers 18 to 22 of the switch are arranged to be stepped by themotor magnet 17.- The motor magnet is provided with an initial and asubsequent stepping circuit. This initial operating circuit may betraced from battery, winding of motor magnet 17, common contact strip42, contact 15, and to ground at contacts 14 of relay 13.

Mounted on the wiper shaft 40 is a ratchet 47 arranged to be advancedintermittently, stepby-step, in a clockwise direction by pawl 48 whichis controlled by the motor magnet 17. When ratchet 47 is advanced by thepawl, the wipers 18 to 22 are advanced clockwise, step-by-step.

Upon the initial energization of the motor magnet 17, the wiper 18 istherefore advanced off the contact 15 and onto the common strip 42, thusopening the initial stepping circuit, the wiper 19 is advanced to bridgethe common contact strips 43 and 44, and the wipers 20 to 22 makecontact with the first contacts 23 to 25, respectively, of banks 6 to 8.

At this time the subsequent stepping circuit for the motor magnet 17 isclosed. This stepping circuit is controlled by the pendulum. 12 whichserves as a conventional time control element for intermittentlyenergizing the slow-release relay 30 and the motor magnet 17. When thependulum closes contact 28, the slow-release relay 30 is operated overan obvious circuit. Subsequently, when the pendulum closes contact 29,the subsequent stepping circuit of the motor magnet 17 is closed. Thiscircuit may be traced from battery, winding of motor magnet 17, contacts32 of relay 30, strip 43, wiper 19, strip 44, to ground through contact29. The energization of the motor magnet causes the wipers 18 to 22 totake another step. As relay 30 is slow-releasing, each time the pendulumcloses contact 29 the motor magnet 17 is energized and the wipers 18 to22 advance clockwise to another contact- In this way the wipers 18 and19 are stepped around over the associated common strips and the wipers20 eight stator coils.

to 22 are rotated over the contacts on the associated banks. When thewipers 20 to 22 have wiped over the last contact on these banks, wiper19 no longer bridges common contact strips 43 and 44, as 44 is shorterthan 43, and the motor magnet 17 and the relay 30 are de-energized,bringing the wipers 18 to 22 to rest. In this position, the wiper 18rests on contact 15 so that the initial stepping circuit of the motormagnet 1'7 (previously traced) will be closed upon the selection ofcontact 2 of the stock selector H.

Stocks 1, 2 and 3 are each shown provided with three operating magnetsK9, K10 and K11 connected to corresponding contacts in the banks overwhich the wipers 20 to 22 rotate. Referring now to Fig. 2, it will beseen that K9, K10 and K11 are respectively associated with theindicators on the open, high and low shelves of the stock unit 1. In thedrawings, the right-hand or fractions indicator is shown only on thelast shelf LQ and even there is shown cut away, for the purpose ofshowing the method of positioning the dial. The fractions dial isomitted on the previous close shelf PC, the open shelf, the high and thelow shelves in order to show more clearly the armature 34 of the magnetK9, the armature 35 of the magnet K10 and the armature 36 of the magnetK11.

Referring to Fig. 3, an assembly of a display indicator unit, one of theunits digits indicators K4 on the last shelf LQ (Fig.- 2) is shown. Asthe hundreds, tens and fractions indicator assemblies on the last shelfLQ are similar to the units assemblies, a description of the latter willserve for all of them. In Fig. 2, K29, the shaft on which K4 is mounted,is shown driven directly by the units main drive shaft K32. In actualpractice, however, the K29 shaft is driven. by the main units drivingshaft K in the manner shown in Fig. 3, that is, the gear K39 rigidlymounted on shaft K40 drives the gear K37 rigidly mounted on shaft K29,through the pinion K38 which is supported by the frame.

The display indicator unit assembly includes an electromagnet K20 withits armature K24. The armature is kept in place by an upright bar K27which passes through a hole therein and its upward range of movement islimited by nuts against which it is pressed by return spring K28 whenthe magnet is not energized. The outer end of the armature, when themagnet coil is energized, presses downward the display indicator drum K4and its cam K31, mounted loosely on the shaft K29.

The indicator drum'K4 is cup-shaped to make it light in weight. Itcarries on its periphery a series of large figures 1, 2, 3, 4 0 with twoblank spaces, or one blank space of double width, between the 0 and 1.The twelve spaces are required on the periphery because of the twelvestator coils in the digits prime movers, serving to position theindicators. The fractions indicators, of courseghave the figures A; to Vwith one blank space between. the 0 and 1 around their peripheries, onlyone single blank space being required because the fraction price moverof the co-pending application is provided with only The outer end of thearmature K24 is formed upward and is toothed, so as. to effectengagement with the crown teeth on the lower surface of the retainingcollar K3. Thus, as the shaft rotates K29 rotates within the assembly toits predetermined position by the driving of the rotor, the friction ofthe shaft against the cam cannot displace the indicator drum K4.

Also attached to the shaft K29 is a pin having a roller K30mountedthereon. Positioned to bear upon this roller by downward movement is thespiral outline of the cam K31 as illustrated. The

downward movement of the cam upon the shaft,-

forced by the armature-attraction to the magnet coil, presses thisspiral upon the roller K30. As the roller is fixed to the shaft K29,which is in turn held by the associated rotor (not shown), the cam K31with its attached display indicator K4 is caused to rotate until the endof the spiral is reached. The extent of movement of the indicator K4 isdetermined by the distance between the first point of contact of thespiral upon the roller and the end of the spiral. The required measureof movement to effect the display of any figure by the dial K4 involvesthe distance relations between the rotor movement, the movement of theshaft K29, the cam movement, and the figure spaces; and is a matter ofconstructional design. It is immaterial from what point the indicatorand cam may start their movement, the correct end of the movement isattained.

Referring to Fig. 2, the indicators on the previous close, open, highand low shelves shown are of the same construction as the indicator onthe last shelf. just described. There is, however, a single operatingmagnet K9 and a single armature K for positioning all of the indicatorson each shelf, as the open shelf.

All of the stock units 1, 2, 3 etc. on the quotation board. areidentical with the one described, and all the indicators arepositionable by the hundreds main drive shaft N26, the tens main driveshaft M26. the units main drive shaft L26, and the fractions main driveshaft J26. The means for setting these main drive shafts has beenpreviously described. When these main drive shafts have been set toblank positions, .and the open, high and low shelf operating magnets K9,K10 and K11, respectively, in each stock unit on the board are thenenergized, it is evident from the foregoing description that theindications on the open, high and low shelves on all the stock unitswill be set to blank position.

It has previously been explained that, upon the selection of the contact2 in the stock selector H, the sequence switch 3 is started and itsgrounded wipers 20 to 22 are stepped over successive contacts in theassociated banks 6 to 8 respectively. As the open, high and low shelfoperating magnets K9 to K11 are connected to the first contact in eachof these contact banks, and the open, high and low shelf operatingmagnets of the remaining stock units of the board are connected tosubsequent corresponding contacts in these banks, it is evident that theopen, high and low shelf operating magnets in all the stock units on theboard are successively operated as the grounded wipers 20 to 22 rotateover the contacts in the banks 6 to 8, respectively.

It is, of course, obvious that by adding additional contact banks to theswitch 3, the indicators on the previous close and last shelves of eachstock unit on the board can be likewise set to blank when the switch 3is selected.

A modification of this invention is applicable to such a stock quotationboard as set forth in applicants British Patent No. 363,395. In thatparticular type of quotation board it is a feature that the indicatordrive shafts are automatically returned to a blank position after theposting of each quotation. Therefore, instead of connecting the startingrelay 13 to a contact on the stock selector of the system, it is onlynecessary to substitute a grounded push button for the contact.

Upon the completion of the days transaction the operator would, byoperating the push button, supply the necessary ground impulse to relay13 to start the operation of the sequence switch 3.

Other modifications of the principal design of this invention arepossible without essential departure therefrom and the appended claimsare to be construed as broadly as is consistent with the real spirit andscope of the invention.

I claim:

1. In a stock quotation system, a quotation board provided with aplurality of stock units each having a plurality of price indicators, aplurality of shafts, means for setting the shafts independently of oneanother to blank position, each group of corresponding indicators in thedifferent units being associated with one of said shafts, meansincluding a sequence switch effective, when selected, to selectsuccessively the stock units on the board, means for selecting saidswitch, and means in each stock unit, responsive to the selection of theunit, for setting the indicators therein to the positions of theirassociated shafts.

2. In a stock quotation system, a quotation board provided with aplurality of stock units each having a plurality of price indicators, aplurality of shafts, means for setting the shafts independently of oneanother to predetermined positions, each group of correspondingindicators in the different units being associated with one of saidshafts, means including a sequence switch effective, when selected, toselect successively the stock units on the board, means for selectingsaid switch, and means in each stock unit, responsive to the selectionof the unit, for setting the indicators therein to the positions oftheir associated shafts.

3. In a stock quotation system, a quotation board provided with aplurality of stock units each comprising an open, high and low" shelf ofprice indicators, a plurality of shafts means for setting the shaftsindependently of one another to blank position, each group ofcorresponding indicators in the different units being associated withone of said shafts, a magnet for each shelf operable when energized toset all the indicators thereof to positions corresponding to thepositions of the shafts, means including a sequence switch effective,upon its selection, to complete operating circuits for the magnets inthe several units, unit by unit, and means for selecting said switch.

4. In a stock quotation system, a quotation board provided with aplurality of stock units each having a plurality of price indicators,common driving means for each group of corresponding indicators on theboard, means for setting each driving means independently of the otherdriving means to blank position, means includ-' ing a sequence switcheffective, when selected, to select successively the different stockunits on the board, and means in each stock unit, responsive to theselection of the unit, for setting the indicators of the unit to thepositions of their associated driving means.

5. In an indicator system, a display board provided with aplurality ofindicator units each having a plurality of indicators, a plurality ofshafts, means for setting the shafts independently of one another toblank position, each group of corresponding indicators on said boardbeing associated with one of said shafts, means including a sequenceswitch,- eifective when selected, to select successively the differentindicators on the board, means for selecting said switch, and means ineach indicator unit, responsive to the selection of the unit, forsetting the indicators thereof to the positions of their associatedshafts.

6. In a stock quotation system, a quotation board provided with aplurality of stockunits each having a plurality of price indicators, aplurality of shafts, means for setting the shafts independently on oneanother to blank position, each group of corresponding indicators in thedifferent units being associated with one of said shafts, means including a sequence switch'for successively selecting the stock units onthe board, means for selecting said switch, means in each stock unit,responsive to the selection of the unit, for setting the indicatorstherein to the positions of their associated shafts, stepping means forthe switch, means responsive to the selection of the switch forinitially actuating said stepping means, and means thereafter effectivefor intermittently actuating said stepping means until all the stockunits have been selected by the switch.

'7. In a stock quotation system, a quotation board provided with aplurality of stock units each having a plurality of price indicators, aplurality of shafts, means for setting the shafts independently of oneanother to blank position, each group of corresponding indicators in thedifferent units being associated with one of said shafts, meansincluding a sequence switch for successively selecting the stock unitson the board, means for selecting said switch, means in each stock unit,responsive to the selection of the unit, for setting the indicatorstherein to the positions of their associated shafts, stepping means forthe switch, means responsive to the selection of the switch forinitially actuating said stepping means, and means thereafter effectivefor intermittently actuating said stepping means until all the stockunits have been selected by the switch, said switch being removed fromoperative relation with said selecting means upon its initial actuationand restored to operative relation therewith after its final actuation.

8. In a stock quotation system, a quotation board provided with aplurality of stock units, each having a plurality of price indicators, aplurality of shafts, means for setting said shafts to predeterminedpositions, each group of corresponding indicators in the different unitsbeing associated with one of the shafts, means including a sequenceswitch effective, when started in operation, to select successively thestock units on the board, means for starting said sequence switch inoperation, and means in each stock unit, responsive to the selection ofthe unit, for setting the indicators therein to the positions of theirrespective'associated shafts.

9. In a stock quotation system, a quotation means including a sequenceswitch effective upon selection thereof tocomplete operating circuitsSMITH.

